I’ve confessed before to loving charts and graphs and anything color coded. It’s probably the only fun part about getting out of debt, aside from the awesome feeling of making progress, of course. At one point, my plans were quite elaborate and there were several documents to color code, but now that I’m down to one card, things are pretty simple.
This is my schedule for paying off the Capital One Visa. I used this format with the other cards and it’s worked well for me. This particular chart, because it’s the oldest, has been readjusted somewhere in the neighborhood of 20 times, I would guess. Sounds tedious, but I enjoy it.
I’ve recently adjusted it to account for the raise, which means that it’s once again a stretch goal (meaning I have to do everything right to make it), but I usually come within $100 of my goal every month. I’m currently still on track to be out of debt by the end of the year, but there is quite a bit of padding there, because my birthday and, of course, Christmas fall at the end of the year and my parents usually give me money for those occasions. I’d rather get out on earned money alone and put that gift money toward my emergency fund, but anyway I can be out of debt by the end of year is legitimate in my eyes.
It’s sure to change several times before I get to the end. (And, if you’re thinking I’m just really bad at subtraction, keep in mind that I roughly account for interest.) But, this should give you an idea of how I track my payment goals.
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Way to go you. Less than a year is such an exciting thought – best of luck!!
You are inspiring me SO MUCH with how you are so full-speed-ahead on this debt. I can’t believe you’ll be out of debt at the end of this year! Amazing!
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